Matrix Composites & Engineering Ltd Annual Shareholders Meeting Transcript
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Our CEO, Aaron Begley, will then provide a more comprehensive presentation on our operations and outlook following the formal proceedings.
Throughout the 2021 financial year, Matrix continued to navigate a very challenging period in the oil and gas sector. This originated in FY '20 following the onset of the COVID-19 pandemic. Our first half in FY '21 was particularly impacted, reflecting the dramatically weak oil price and broader COVID-19 global impacts on the oil and gas sector.
We recorded revenue of $8.1 million for the half compared to $22.6 million in the prior corresponding period. This eventually led to a full year revenue result of $17.6 million compared to $27.4 million in the prior corresponding period and an underlying EBITDA loss of $4.4 million versus a $3.7 million loss in FY '20. So these were 2 very hard years one after the other.
However, we did generate $6 million of revenue in the final quarter of FY '21 as the COVID-19 situation
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